Last week only RIL had sold around 10% stake to United States social media giant Facebook.
The fund received through the stake sale will be used to pare the debt of the parent Reliance Industries which has sought to become debt free by year 2021.
Showing posts with label RIL. Show all posts
Showing posts with label RIL. Show all posts
Tuesday, May 05, 2020
Reliance Industries Sells further stake in Jio
Last week only RIL had sold around 10% stake to United States social media giant Facebook.
The fund received through the stake sale will be used to pare the debt of the parent Reliance Industries which has sought to become debt free by year 2021.
Friday, April 24, 2020
Facebook buys 9.9% in Jio Platforms for Rs. 43, 574 Crores ( $ 5.7 Bn )
Facebook Inc. has bought a massive 5.7 Billion Dollar investment in Reliance Industries Jio Platforms for staggering Rs 43, 574 Crores.
Through the deal Facebook is looking at leveraging the reach of the Indian Oil giant telecom assets and Whats App,s 40 Crores local users to connect small business and consumers in Asia's third largest economy.
The agreement will help RIL to pay off part of the company loan and debt and it is rendering to become debt free in coming months hopefully by the end of this year.
It enables Facebook owned WhatsApp and Jio Mart to create an e-commerce giant that can potentially rival Amazon and Walmart in India.
Following the deal Reliance Industries shares at the Indian bourses jumped 10 Percent to close at the high levels of 1370 levels which is highest in two months.
As previously also suggested by our Team one should buy Reliance at the levels of 1100 to 1150 but now it has touched the levels of 1370 , still one should by buyer in RIL for the target of 1800 by the year end.
Through the deal Facebook is looking at leveraging the reach of the Indian Oil giant telecom assets and Whats App,s 40 Crores local users to connect small business and consumers in Asia's third largest economy.
The agreement will help RIL to pay off part of the company loan and debt and it is rendering to become debt free in coming months hopefully by the end of this year.
It enables Facebook owned WhatsApp and Jio Mart to create an e-commerce giant that can potentially rival Amazon and Walmart in India.
Following the deal Reliance Industries shares at the Indian bourses jumped 10 Percent to close at the high levels of 1370 levels which is highest in two months.
As previously also suggested by our Team one should buy Reliance at the levels of 1100 to 1150 but now it has touched the levels of 1370 , still one should by buyer in RIL for the target of 1800 by the year end.
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